Setting up Your Business Foundation
What is a Business Foundation?
I focused on establishing the Foundation for Leadership and Team Prioritisation – the Company Vision. Once the vision is established the business owner should create a description of how the vision will be accomplished. This is called the Company’s Mission.
The statement of the company’s mission should include:
❥ Who we are as a company
❥ In what business we are employed
❥ The markets that we serve
❥ How we differ from our competition
The outcome should be the company’s unique value proposition or unique selling proposition (USP). The USP is a valuable gem that will strategically drive all of your marketing efforts.When properly crafted and deployed, your USP will mitigate your company’s exposure to price competition. By doing so, you dramatically differentiating your company from the rest of the pack.The Unique Value that your company is able to provide should deflect the need for a discount!
You might be thinking “I’m in a commodity business so I don’t have anything of unique value to provide.” I guarantee that with proper self-assessment, any group of individuals assembled for a common purpose (a company)
can find something, they can do better than anyone else. We at ActionCOACH have assembled a USP creation methodology that takes a group through that discovery process. To illustrate the above let’s consider ActionCOACH’s Mission Statement:
ActionCOACH is a team of committed, positive and successful people who are always striving to be balanced, integral and honest. We will work within our “14 Points of Culture” to make sure that everyone who touches, or is touched by the ActionCOACH team, will benefit greatly and in some way move closer to becoming the person they want to be or achieving the goals they desire.
We will always work in co–opetition with all those who believe they are in competition with us.
We are in the business of ‘Edutainment’. We will educate ourselves, our clients and all those with whom we work, while we entertain them and create a fun learning environment. We will educate our clients in world-class marketing and business development techniques using audio, video, CD’s, other technologies, and simple workbooks, workshops and seminar formats.
Our products and services will be of the highest quality, value for money and, whether sourced from within the company or externally, will always add the most value using the latest and most effective training methodologies available.
ActionCOACH clients, whether they are small, medium or large in size, will have a desire to have us help them in achieving their goals and be able to take on Our Commitment to them by returning their Commitment to ActionCOACH. They will be forward thinking, willing to learn and grow, and be willing to work as a team player in the development of an organization of people.
Our clients will be selected more on attitude than size and they will want to do business with us because we understand people are important, systems should run a company, we offer the most practical, most applicable and fastest strategies on growth, and most importantly, because we mean what we say.
Here are a few thought provoking questions (from Instant Team Building by Brad Sugars) to ask when developing your mission statement:
- What do we, as a team, want in abundance?
- What do we, as a team, want to reduce?
- Describe the relationships you wish to have with your:
As a quality check for your mission statement ask the following questions:
- Is it future oriented?
- Is it likely to lead to a better future for the organization?
- Is it consistent with the organization’s values?
- Does it set standards of excellence?
- Does it clarify purpose and direction?
- Does it inspire enthusiasm and encourage commitment?
- Does it set the company apart from the competition?
- Is it ambitious enough?
- Is it exciting?
- With a well-crafted and communicated vision and mission statement, your team will be able to cross check their priorities with yours.
Many a time, entrepreneurs and business owners want quick fixes when it comes to working on the team, however, working with the team is not an overnight strategy. It takes loads of determination and understanding, and can be deeply humbling.
Apart from building Your Company Vision & Mission, you might want to also Build Your Company Culture.
A Company Culture is what your employees say to their friends on what it is like working at your company.
Why does company culture play an important role for organizational growth? Refer to this video, “Why Is Your Company Culture Important“.
So, how do you build your company culture? Download this checklist. It contains some simple yet important questions for you to refer to, so you can build the culture you envision for your company.
Enjoy the application, and all the best!
Asia’s Top Business Growth Specialist – Maresa Ng
Maresa Ng is a Passionate Entrepreneur who helps business owners grow their business to a stage where it is commercial, profitable, and can continue to work without them. Maresa has worked with thousands of business owners and she has been turning around businesses since 2008. She was a corporate and investment banker, but now she is the leading Business Growth Specialist & Business Advisor in South East Asia. She always believes, as entrepreneurs, you can have Great Quality of Life through Great Business!